Entire American middle class will fall under the poverty line in 5 years.

According to investigative journalist,Wayne Madsen,the U.S. simply won't exist and everyone will be driven to dire poverty.

He says that everyone will be working 2 or 3 minimum wage jobs just keep food on the table. I was under the impression that a lot of people,who are lucky enough to find work,were already doing this. If things get any worse, I would expect to see a further erosion of the service sector which will lead to even fewer jobs. I'm sure those tent cities will get only bigger with the housing market continuing to meltdown. There appears to be NO way out of this mess for America and it's only to get uglier. Recovery? What recovery?

www.infowars.com

To sum up everything further, check out RT new's latest interview with Trends Journal's Gerald Celente as he unveils just a few of his prediction for 2011. VIDEO w/transcript for those you who can't watch it.

RT.com-Gerald Celente 2011 predictions

Is this the Happy New Year everyone was looking forward to? I doubt it unless you're a Wall Street Fat-Cat.

What happens on Wall Street means nothing on Main Street. I've said it before, I'll say it again: If you've got a Plan B,now might be a good time to get on with it.

This is the plan.

One world government.

One world religion.

One world currency.

Patriotism is the enemy of the state.

Connect the dots people!

Peace

reply to post by FlyingJadeDragon


I would be extremely surprised if more than that do not fall below the poverty line. It takes everything we have to make it where I live. It is just getting worse. We are fiscally responsible and do not squander money and it is still hand to mouth. I look around me and see others far worse off. I believe it is all a grand plan to make citizens nothing more than indentured servants.

Per mybudget360.com

50% Of Americans One Paycheck Away From Needing Government Assistance

Original Source

This is a scary situation, half of the population need government help. Basically this sounds to me like a OH poop moment for most people in the states.

Thanks.

Earlier in 2010 after I mailed in my taxes, apparently the IRS thought I did not make enough money. They mailed me a check. I made a mistake while doing my taxes. Apparently because I did my taxes manually because I was saving up money to buy a pc that worked with all the new required operating systems, I did not see the small print about the making work pay tax credit. I'm used to living frugally most of the time. Apparently some of my habits are becoming habits for others. Some people just can't manage their money though and don't know how to live frugal. My other brother makes almost twice as much money as me but his wife and kids exhaust his paycheck before he even gets it.

I still don't own a cell phone because I thought they were too expensive on the monthly plans while land lines are much cheaper. I'm not the only one that doesn't use a cell phone because of the cost. My one job I'm working requires me to put in as much time as my bosses think I need to get the job done whether or not that requires putting in a lot of extra personal time. In fact my current job prohibits me from working any other job that would interfere with the extra time required to work my current job. They got me good. However I'm not complaining. I have satellite tv service, a land line, and a car in decent shape and enough money to splurge on something every once in a while. It's all those routine expenses that eat up some people's income. Examples: they bought a house that was more than they could afford (high monthly mortgage payments), car payments, cell phone payments, eating out everyday, etc. etc. For those who live underneath their means with smaller house payments, no cell phone, they cook and eat at home, and bring bag lunches to work, it is possible to save some money. I saved up money for years before I bought my car and had it paid off in less than 3 years without paying too much interest. I limit my purchases as well. Some people have serious problems with overspending and self control.

Still the other day my brother asked me what I was doing with all the money I must be saving. Why was he asking me? He makes almost twice as much as me and isn't saving anything outside his 401K. My savings keep disappearing for purchases I need to make. a new pc because my old one is 10 years old, a car, etc. etc. It takes years to save up for those purchases without the government increasing our costs for energy, gas, electricity, health care, etc. etc. My main savings comes from not paying the interest on debt so many others pay because I save up for purchases before I buy them. I've been doing that for years for the most part if possible. I can easily see how higher gas, health care, and other rising costs are driving some people into deeper debt.

Even our currency and our national economy is facing serious problems because of this spend, spend like crazy approach to solve all of our problems. Recessions are supposed to make one cut costs and live more frugal so that prosperity can grow back afterwards in a recovery. Our national government skipped that phase this time. That spells potential devastating trouble ahead in my opinion. It's also the reason companies are holding back in hiring. Our national government is increasing our costs with new regulations and government programs just about every time you turn your back.

Great responses so far.
We are being crunched by inflation and stagnant wages which have failed to keep up for the last 30 years so most of us just keep slipping slowly further and further behind. But being the nice people they are the banks happily lend us more at 23% interest.
Most Americans no longer know how to budget their money. Besides making ridiculous interest payments, most Americans spend way too much on food by eating out rather than cooking for themselves, or if they do they buy expensive prepared meals (say Stouffers).
We can't have everything we want and most of us do not know the difference between needs and wants.

Regardless, the American dream is just that for most - a dream.

reply to post by FlyingJadeDragon


Hey, perk up there y'all, it won't be all that bad. You'll all have jobs of course .. lol .. earning $5 a day .. making iToys for the Chinese and OPEC nations while you're paying back all that debt for that party we've all been having while ignoring the eventual consequences, har! And besides, nobody will have to worry about retiring anytime soon anyhow, everyone will be too poor to even consider it. TEACH! I hear the piper too, lol. Oh, and is that a rooster knocking at our door too?

This is all too funny. Karma is so cool, huh?

Big deal. I have lived like this my entire adult life. Too bad so many of thes epeople who will be joining my lifestyle, were really living way beyond their means in the first place. Why should I feel sorry these people? Adapt or die I reckon. Life is what you make of it.

It's quite simple.

The UN was set up for a reason. It is there for a purpose. When the credit crunch happened in 2008 and the world's financial markets were on a precipice, the leaders of the G20 should have gone collectively to the UN and drafted an international agreement for a trust fund to be set up via the IMF whereby a small percentage of the profits from all global banks be siphoned off and used to offset the cutbacks and hardship we are now seeing.

People need to wake up. It was the governments and the financial institutions that got us into this mess by promising us riches on the never never.

We should all be angry at the profiteering that is STILL going on, and at the fact that those who have been duly elected to represent us have done nothing to hold those responsible to account.

You feed a cat too much and it becomes pampered and lazy. Feed it nothing and it becomes hostile and wild. Feed it just enough to keep it alive and it will kill mice for you.

Unemployment is high because we need young men to fight wars for the rich.We get paid just enough through work, unemployment and welfare so we'll keep buying stuff and paying our basic bills, because it benefits the wealthy.

Bow your heads, obey and we will entertain and inform you of what you need to believe. Object and you will be made an example of.

Originally posted by hotbakedtater
Big deal. I have lived like this my entire adult life. Too bad so many of thes epeople who will be joining my lifestyle, were really living way beyond their means in the first place. Why should I feel sorry these people? Adapt or die I reckon. Life is what you make of it.

You make a valid point. I am in a similar situation to you. It disgusts me when I see the waste and greed around me. During the boom the decedance that was visible was actually quite sickening. In some ways, it is a good thing the pendulum has swung the other way. But it is the bankers and the politicians who are responsible for all this.

The US has seen economic growth every year since 2008; an indication of economic growth in a recession is a GOOD thing.

Now the entire middle class falling below the poverty line? That's asinine. The poverty line is somewhere around 14,000 dollars a year. Where is the statistical evidence to back up this claim? According to statistics, we are on a recovering economic path. Doom and gloom driving speculation markets is one sure way to stunt that economic growth.

Originally posted by the.lights
... it is the bankers and the politicians who are responsible for all this.

No, not really. I put most of the blame on the corruptible voters that elected corrupted politicians that solicited their votes with bribes and kickbacks, such as was the case with Obama that promised to rob some citizens for the personal benefit of others. Disgusting blatant bribery and corruption, Obama and everyone that voted for him should be sent to prison, ha.

And bankers wouldn't exist if not for the coveting and greedy, those that want to live beyond their current means, those that just NEED that new home entertainment system or new car on sale today although they really can't afford it today .. so they sell their souls to a banker in order to get those cool toys today .. knowing full well they should be saving for a rainy day .. especially that day they have become to old to work any more.

Well, boohoo, it's not the bankers fault, nor any politician .. the problem is with all these bribable voters and those that want to live beyond their means as if they are rich before they are or ever are. Funny how so many expect MORE from all the other humans than themselves. I mean, how can one human demand another human fix their personal issue(s)?

Humans creep me out.

reply to post by againuntodust


There is no real recovery coming. Too many things stacked against America. Don't let those let 'green shoots' fool you.

reply to post by Shamanistical


I actually completely agree with you. In fact there is collective responsibility for all this, and collective blame. Not just for the bankers and the politicians but also the loan sharks and the greedy public voters who voted for the political groups that got us into this mess. All because they thought their houses were going to one day make them millionaires. Or because they were given tax breaks on an income of 50K+.